AT&T; to Buy Philips' Wireless Unit: Basking Ridge, N.J.-based AT&T; Corp. said its AT&T; Network Systems unit will buy Philips Electronics' wireless phone equipment businesses based in France and Germany. Financial details were not disclosed. The companies said they expect to complete the agreement in early 1996. The planned purchase would broaden AT&T;'s presence in the European phone market, where it formed an alliance last year with Unisource, a union of phone companies in the Netherlands, Spain, Sweden and Switzerland. It would also strengthen Network Systems' operations as AT&T; prepares to sell the unit to the public under plans to split into three companies. In New York Stock Exchange trading, AT&T; shares dropped 75 cents to $64.38.
Times Staff and Wire Reports
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